Despite a soft second quarter, commercial real estate experts say they’re expecting 2017 to be “one of the most significant years on record” for investment sales in Ottawa.

The local office of real estate services firm CBRE said in a report last week that the investment market lost some steam in the second quarter, with transactions totalling $304.6 million. That’s a 9.5 per cent decrease quarter-over-quarter and represents the lowest second-quarter volume since 2011, CBRE stated.

However, the brokerage firm said several “large-scale” office and retail transactions are expected to close before the end of the year and give a significant boost to the city’s 2017 totals.

Westdale Properties’ $24-million purchase of the land at the corner of Rideau Street and King Edward Avenue that’s currently leased to the LCBO.

The land purchase represents a re-entry into downtown Ottawa for Toronto-based Westdale Properties, which currently owns a shopping plaza on Walkley Road and a retail property leased to Fabricland on St. Joseph Boulevard in Orléans as well as dozens of multi-residential, commercial and industrial properties across Ontario. The company also has holdings in Halifax, Regina and Dallas.